Plains All American Pipeline, L.P. (NYSE:PAA) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 56.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,047 shares of the pipeline company's stock after buying an additional 50,391 shares during the quarter. Van ECK Associates Corp's holdings in Plains All American Pipeline were worth $2,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAA. Clarus Group Inc. boosted its holdings in shares of Plains All American Pipeline by 30.5% in the fourth quarter. Clarus Group Inc. now owns 91,527 shares of the pipeline company's stock valued at $1,563,000 after acquiring an additional 21,400 shares in the last quarter. Wealthstar Advisors LLC acquired a new position in Plains All American Pipeline during the fourth quarter worth $606,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth $27,000. Miller Howard Investments Inc. NY grew its stake in Plains All American Pipeline by 1.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company's stock valued at $44,594,000 after acquiring an additional 38,062 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in Plains All American Pipeline by 15.7% during the 4th quarter. Stephens Inc. AR now owns 110,735 shares of the pipeline company's stock valued at $1,891,000 after acquiring an additional 15,049 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

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Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded down $0.19 during midday trading on Monday, reaching $20.29. 3,248,820 shares of the stock traded hands, compared to its average volume of 4,453,184. The firm has a fifty day moving average price of $19.05 and a two-hundred day moving average price of $18.06. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 27.79 and a beta of 1.65. Plains All American Pipeline, L.P. has a fifty-two week low of $16.18 and a fifty-two week high of $21.00.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Plains All American Pipeline's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.49%. Plains All American Pipeline's dividend payout ratio (DPR) is 208.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PAA shares. Wells Fargo & Company lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Royal Bank of Canada reissued a "sector perform" rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Raymond James raised their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Barclays upped their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.21.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.